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Informist, Wednesday, Oct. 23, 2024

By Shreya Shetty

MUMBAI – Prices of tur and masur were up across key spot markets in the country due to a shortage in supply, traders said. Prices of chana were down due to persistent low demand, they said.

CHANA prices at Vidisha in Madhya Pradesh were down by INR 50 from Tuesday at INR 7,200-7,300 per 100 kilograms, said Dinesh Mangal, a local trader. Arrivals were up by 100 bags to 400 bags (1 bag = 100 kilograms). "Buyers had already purchased chana in bulk two months ago in anticipation of festival demand, so naturally there is little demand in the market currently," he said. While demand had spiked for a day or two due to need-based buying by millers, the price rise was not substantial. Hence, prices fell to earlier low levels, he said.

Market sentiment is low due to the government's declaration of the commencement of Bharat Dal sales, Mangal said. "Bharat Dal is yet to hit retail markets, but it is being sold at a cheaper price, which is weighing on the market prices of chana," he said. Chana prices in the northern part of the country may reach INR 7,000 per 100 kilograms and stabilise in the next few days, he said. 

Prices of chana at Akola in Maharashtra were down by INR 50 from Tuesday at INR 7,175-7,200 per 100 kilograms, according to the India Pulses and Grains Association. Arrivals were down by 100 bags to 500 bags (1 bag = 50 kilograms).

TUR prices in Akola were steady at INR 10,200-10,250 per 100 kilograms, said Ashok Gupta, a local trader. Arrivals were up by 100 bags at 300 bags (1 bag = 50 kilograms). Prices have temporarily stabilised after rising in the past two days, he said. "The arrivals in the market are very low and the demand for tur has picked up, driving prices upwards," he said. Millers do not have stocks in the pipeline for milling and meeting the daily demand, prompting them to buy the leftover stocks of tur at a higher rate, he said. 

The delay in the harvest of tur crops in Karnataka owing to heavy rain also supported prices, Gupta said. "The harvest has been delayed by 15 days at most, so prices will be on the higher range till mid-Nov," he said. Prices may fall once the new crop hits the market by the end of November or early December, he said.

Prices of tur at Kalaburagi in Karnataka were up by INR 40 from Tuesday at INR 10,000-11,023 per 100 kilograms, according to the association. Arrivals were up by 282 bags to 682 bags (1 bag = 50 kilograms).

MASUR prices at Vidisha were up by INR 125 from Tuesday at INR 5,500-6,300 per 100 kilograms, Mangal said. Arrivals were steady at 300 bags (1 bag = 100 kilograms). "Prices have risen as the supply of domestic masur is slowing down," he said. The government has been actively procuring substantial amounts of masur, which has also supported prices, he said. However, the rise in prices is temporary as demand for masur could fall post-Diwali, he said. 

Prices of the moti variety of masur were steady in the key wholesale market of Lalitpur in Uttar Pradesh at INR 5,700-6,000 per 100 kilograms. Prices of the choti variety were also steady at INR 6,000-6,350 per 100 kilograms, according to the association.  End

Edited by Akul Nishant Akhoury

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